Two Creeks Capital Management LP Takes Position in Flutter Entertainment plc (NYSE:FLUT)

Two Creeks Capital Management LP purchased a new stake in Flutter Entertainment plc (NYSE:FLUT) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 106,198 shares of the company’s stock, valued at approximately $27,447,000. Flutter Entertainment comprises approximately 1.7% of Two Creeks Capital Management LP’s investment portfolio, making the stock its 21st biggest position.

Several other institutional investors have also bought and sold shares of FLUT. Virtu Financial LLC lifted its holdings in Flutter Entertainment by 56.2% during the third quarter. Virtu Financial LLC now owns 7,371 shares of the company’s stock worth $1,749,000 after acquiring an additional 2,652 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Flutter Entertainment in the third quarter worth about $802,000. Lord Abbett & CO. LLC purchased a new position in Flutter Entertainment in the 3rd quarter valued at approximately $24,464,000. Harbour Capital Advisors LLC purchased a new position in shares of Flutter Entertainment in the fourth quarter valued at $505,000. Finally, Benson Investment Management Company Inc. purchased a new position in Flutter Entertainment during the 4th quarter valued at about $5,116,000.

Flutter Entertainment Trading Up 2.5 %

Flutter Entertainment stock opened at $227.08 on Wednesday. The firm’s 50 day moving average price is $244.49 and its 200-day moving average price is $252.83. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The stock has a market cap of $40.30 billion and a P/E ratio of 1,032.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Needham & Company LLC upped their target price on Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Citizens Jmp cut their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. JMP Securities lowered their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating for the company in a research note on Monday, April 14th. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Finally, Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. Twenty research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $309.44.

Insider Buying and Selling at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the transaction, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

About Flutter Entertainment

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.